Tech »  Topic »  Exclusive: Finnish startup raises €25M to put a ‘Donut’ motor in EV wheels

Exclusive: Finnish startup raises €25M to put a ‘Donut’ motor in EV wheels


Finnish startup Donut Lab has secured €25mn in seed funding to scale up its in-wheel hub motors for electric land, sea, and air vehicles. 

Alongside the investment, Donut Lab is opening an R&D hub in Chippenham, UK. Risto Siilasmaa, serial tech investor and former Nokia chairman, has also joined the company’s board.

Marko Lehtimaki, Donut Lab’s CEO and co-founder, said the investment signals a continued demand for the company’s technology. “It demonstrates to us [founders] what we have always believed, that our tech solution is truly groundbreaking,” he said.  

Donut’s flagship innovation is a hollow hub motor dubbed, you guessed it, the “Donut.” Instead of sitting under the hood or seat, the motor slots directly into the wheel rim. That means the car doesn’t require parts like axles, transmissions, or differentials, which could make it lighter and more cost-efficient compared to traditional EVs.

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